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Texas Inc. has 8,000 shares of 5%, $125 par value cumulative preferred stock and 85,000 shares of $1 par value common stock outstanding at December

Texas Inc. has 8,000 shares of 5%, $125 par value cumulative preferred stock and 85,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? Oa. $4,250 in total Ob. $0.01 per share Oc. $50,000 in total d. $50.00 per share

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